After almost ten years, the Institute of
Chartered Accountants of India (ICAI) is planning to tweak the curriculum and examination
pattern of CA course. The ICAI President hopes that revamping the existing
course curriculum will enhance the quality of Auditors and Accountants in
India, considering globalisation and its effect on the profession of chartered
accountancy. For achieving this end, the ICAI has also requested the Ministry
of Corporate Affairs to incorporate new subjects into the CA course.
The changes proposed are as follows:
- Students who have appeared for their class 12 exam will also be allowed to register.
- The entry level exam would be made tougher
- Objective type questions will also be
accompanied by subjective questions.
- At the intermediate level, a new subject,
Economics for Finance would be introduced .
- Electives would be introduced as the eighth
paper at the final level, which will include- Financial Services, Risk
Management, Capital Markets ,International Taxation, Economic Laws, Global
Financial Reporting Standards, and Multi-Disciplinary Case where students will go through an open-book
exam to solve questions based on case studies.
- While previously students had to register
for three years of practical training on passing group 1 or both groups of the
intermediate examination, the new proposal states that the students may
register for three years of practical training on passing either or both groups
of the intermediate examination.
- Students who qualify for taking direct
admission will take approximately three-and-a-half-years while those going
through the foundation course will take roughly four-and-a-half years to become
- Information System Control and Audit will
be renamed as Information System Risk Management and Audit
Established on July 1, 1949, ICAI is the
national professional accounting body of India. Its headquarter is at ICAI
Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110002, India.